Last week the Education and Skills Funding Agency (ESFA) published its latest “Dear Accounting Officer” letter which should have been received by all Academy Trusts in the UK.
The letter provided an update to the sector on the financial returns required to be submitted by Trusts through to the end of the summer term 2018 and their associated deadlines. In addition, the letter also informed Accounting Officers of a new return – the Land and Buildings Collection Tool (LBCT) – and some potential changes to the Budget Forecast Return (BFR) in the future.
We are proud to have sponsored the ‘School Business Manager of the Year’ category at the Kent Teacher of the Year Awards 2017, which was held at the Mercure Great Danes Hotel near Maidstone on Friday 19 May 2017.
With funding becoming increasingly tighter, many academies and schools are struggling to find alternative funding which can help benefit their pupils’ education and well-being. One alternative provider of funding is Sport England. Below is a summary of the current funding pots which are available:
A recent investigation undertaken by Schools Week highlighted that several large academy trusts around the UK have invested surplus cash in various investment funds. This has helped to generate a significantly better return than if the cash remained in the trust’s usual banking arrangements. Of course, these trusts should consider themselves fortunate to be in such a situation with many struggling with cashflows around the UK.
Addressing the gender pay gap has been made a priority by the government and no more so now with Education Secretary, Justine Greening, whose brief includes inequalities. From the 6 April academy trusts and schools with more than 250 workers must publish their gender pay gap statistics on their websites – they have until April next year to achieve this. The statistics will then have to be published every year thereafter.